Maxgrow India Ltd Appoints Additional Independent Director and New Internal Auditor
Maxgrow India Ltd has announced key appointments resulting from its Board of Directors meeting held on June 29, 2026. The company approved the appointment of Dr. M Krishnan as an Additional Non-Executive Independent Director, while simultaneously appointing M/s V. G. Kamat & Associates as its Internal Auditor for the Financial Year 2026-27.The Board meeting considered and formalized these appointments, with a focus on strengthening corporate governance and internal oversight functions within the company.
Appointment of Additional Non-Executive Independent Director
Dr. M Krishnan was appointed as an Additional Non-Executive Independent Director effective June 29, 2026. His appointment is subject to ratification by shareholders at the next General Meeting or within three months from his date of appointment, whichever comes earlier. Dr. Krishnan is not liable to retire by rotation.The Board noted that Dr. M Krishnan has no relationship with any existing Director on the Company’s Board.
Details regarding the independent director are presented below:
| Detail | Information |
|---|---|
| Name of Independent Director | Dr. MKrishnan |
| Date of Appointment | June 29, 2026 |
| Term Details | Subject to shareholder approval at the next General Meeting or within three months from the date of appointment (whichever is earlier); not liable to retire by rotation. |
| Professional Profile | Dr. M Krishnan possesses 37 years of experience in Indian and International Banking, including over 20 years in large corporate banking exposure in India and four years of international banking exposure with Canara Bank. He has held various top management capacities across different sectors. |
Appointment of Internal Auditor
The company also appointed M/s V. G. Kamat & Associates, Chartered Accountants, as the Internal Auditor for the Financial Year 2026-27. The appointment formalizes the firm's role in bolstering the company’s governance and risk management frameworks.M/s V. G. Kamat & Associates has diversified experience providing internal audit services to corporate entities across various sectors. Their approach emphasizes a systematic and risk based strategy, focusing on identifying control gaps, process inefficiencies, and compliance issues while recommending practical solutions.
Key details of the Internal Auditor appointment:
| Detail | Information |
|---|---|
| Name of Internal Auditor | M/s V. G. Kamat & Associates, Chartered Accountants |
| Date of Appointment | June 29, 2026 |
| Term of Appointment | For the Financial Year 2026-27 (1 year) |
| Profile Summary | The firm focuses on strengthening governance and internal controls through a systematic and risk based audit process. |
Stock Price Movement
At the close of trade today, shares of Maxgrow India Ltd settled at ₹49.67, reflecting a decline of 0.94%. The stock saw volatility throughout the session, trading within an intraday range between a low of ₹47.64 and a high of ₹52.64.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.